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By way of Notice No. 4/GBM/2023, of 14 September 2023, the Bank of Mozambique approved the rules aimed at governing activities carried out by entities (natural or legal) transacting virtual assets in Mozambique (also known as VASPs). In particular, this new statute applie..

The regulator of the Nigerian financial system, the Central Bank of Nigeria (“CBN”), on June 20, 2023, issued the Customer Due Diligence Regulations (“Regulations”). This is ostensibly as a reaction to Nigeria being name-checked by the Financial Action Task Force (“FATF”)..

In a significant development, the Foreign Exchange Regulations, initially published in May 2022, have undergone crucial amendments through the Foreign Exchange (Amendment) Regulations, 2023, published on 1 September 2023 via Government Notice ..

The High Court, in a landmark Judgment delivered on 26th May, 2023 in the case of Gulf African Bank Limited v Atticon Limited and 4 others (Comm. Case No. E086 Of 2019 ) held that a bank must conduct an official search from the Companies Registry to fulfil it’s Know Your Cus..

The last couple of years have seen significant progress in the appreciation of the basic principles that lay the foundation for sound lending practices and the integrity of the financial services sector. The banking industry is one of the main drivers of the country..

The Minister of Finance, in terms of the Financial Sector Regulation Act, 2017 (FSRA), published the draft Deposit Insurance Regulations on 4 July 2023 (Draft Regulations), accompanied by a statement of need, and a notice inviting writte..

Aiming to promote financial inclusion and diversification of credits available, the National Bank of Angola (BNA), as the Banking Supervisory Authority, has recently approved a new regulatory package applicable to Microfinance Institutions and Cooperative Credit Companies..

The FIC has published final guidance for crypto asset services providers, which are listed as accountable institutions as of 19 December 2022.

On 20 June 2023, the Central Bank of Nigeria (CBN) issued the CBN (Customer Due Diligence) Regulation 2023 (the CDD Regulations). This regulatory initiative is aimed at assisting financial institutions to comply with customer due diligence measures, required by exis..